By Eurohoops team / info@eurohoops.net
EuroLeague announced that it reached a Financial Fair Play settlement agreement with AS Monaco after the French champions breached financial regulations.
An economic fine has been imposed, but the severity of it has not been revealed.
“The Management Control Commission (MCC), an independent commission responsible for reviewing the financial performance of clubs and ensuring their adherence to the relevant regulations, has concluded its assessment regarding AS Monaco.
The MCC has reached a settlement agreement with AS Monaco. The club has been found in breach of two specific provisions of the EuroLeague Financial Stability and Fair Play Regulations:
Article 7: Failure to provide the EuroLeague body with all necessary financial information required to assess the club’s compliance with the Financial Stability and Fair Play Regulations (FSFPR).
Article 3f: Breach of the shareholder contribution ratio requirement.
As a result of these breaches, an economic fine has been imposed on AS Monaco,” per EuroLeague’s official statement.